“…In the earliest demonstration of this effect, Hermstein (1964) asked pigeons to choose between an outcome providing food reward on a fixed-interval (FI) 15-sec schedule in which reward occurred for the first response after 15-sec had elapsed and an outcome providing food on a variable-interval (VI) 15-sec schedule in which reward occurred for the first response after a variable period of time, averaging 15-sec. Herrnstein Such risk-preference with reinforcer-delay risk has been found despite differences in procedures, reinforcement schedules, types of reinforcement and the species under investigation (Aheam et al, 1992;Kacelnik, 1995, 1997;Case et al, 1995;Cicerone, 1976;Davison, 1969Davison, , 1972Frankel and Vom Saal, 1976;Gibbon et al, 1988;Hursh and Fantino, 1973;Kendall, 1987Kendall, , 1989Killeen, 1968;Logan, 1965;Morris, 1986;Navarick and Fantino, 1975;Pubols, 1962;Rider, 1983;Sherman and Thomas, 1968;Zabludoff et al, 1988).…”